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North Dakota Code 43-23-12 - Broker's place of business - License of employed salesperson

North Dakota Code > Title 43 > Chapter 43-23 > § 43-23-12 - Broker's place of business - License of employed salesperson

^{Current as of: 2009}

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1. Every person, partnership, association, corporation, or limited liability company licensed as a real estate broker is required to have and maintain a definite place of business within this state, for the transaction of real estate business. The certificate of registration as broker and the certificate of each real estate salesperson employed by such broker must be prominently displayed in said office. The said place of business must be designated in the license, and no license issued under the authority of this chapter may authorize the licensee to transact business at any other address. In case of removal from the designated address, the licensee shall make application to the commission before said removal or within ten days after said removal, designating the new location of such office, whereupon the commission shall forthwith issue a new license for the new location for the unexpired period. The broker's home may qualify as such place of business.

2. All licenses issued to real estate salespersons shall designate the employer of such salespersons. Prompt notice in writing, within ten days, must be given to the commission by any real estate salesperson of a change of employer, and of the name of the licensed broker into whose employ the salesperson is about to enter, and a new license shall thereupon be issued by the commission to such salesperson for the unexpired term of the original license, upon the return to the commission of the license previously issued. The change of employer or employment by any licensed real estate salesperson, without notice to the commission as aforesaid, shall automatically cancel that person's license. Upon termination of a real estate salesperson's employment, the broker employer shall forthwith return the salesperson's license to the commission for cancellation. It is unlawful for any real estate salesperson to perform any of the acts contemplated by this chapter either directly or indirectly after that person's employment has been terminated and license as a salesperson has been returned for cancellation, until said license has been reissued by the commission.